Europe's Economy Shifting, From Reverse to Neutral

FRANKFURT—The euro-zone economy may finally be exiting its longest postwar recession but entering a period of stagnation or very weak growth at best, latest data suggest.

The closely watched purchasing managers survey for the euro zone rose to a 15-month high of 48.9 in June, adding to recent evidence that overall economic activity in the 17-country bloc could stabilize this summer after falling continually since late 2011.